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Williams Cos. Will Sell Pipeline
To Shore Up Its Balance Sheet

By

Scott McCartneyStaff Reporter of The Wall Street Journal

Updated Feb. 5, 2002 12:01 a.m. ET

Energy concern Williams Cos. said it is planning to sell its large Midwest petroleum pipeline, possibly to an affiliated company, to bolster its balance sheet amid concerns about its liabilities from a former telecommunications unit.

That former unit, Williams Communications Group Inc., said Monday it would undertake a major restructuring after its banks warned the company may be in default of its credit agreement.